$BTC

Bitcoin could liquidate a large block of leveraged short positions with a move above its annual opening, but expectations for a drop in BTC price are rising as traders target USD 87,000.

Market Update

Key Points:

Bitcoin is preparing for a showdown with leveraged short positions just above its annual opening price.

That key level near USD 93,500 is the main target for traders expecting the BTC/USD pair to consolidate its latest breakout.

Analysis suggests that the next test of support could involve the level of USD 87,000

Bitcoin

BTC

€82,110

consolidated below a key resistance target on April 24 when a BTC price forecast put levels below USD 90,000 at stake.